Question

Which of the following E-commerce business model involves reverse auctions where the consumers determine the prices of the products or services ?(a) Consumer to Business (C2B) (b) Business to Business (B2B)(c) Consumer to Consumer (C2C) (d) Government to Business (G2B)

Answer 1

"Option (a) “Consumer to Business (C2B)”.

    E-commerce business reverses auctions where the consumers fix the prices of the products or services are known as  the “Consumer to Business (C2B)”. Here the consumers are empowered as they can bid the amount that is applicable to the particular product or service from the business provider.

    Here there are multiple consumers behind the service or the product with various price amounts. The business provider can pick a suitable business deal from the consumer for their service or product."